Machine to Machine (M2M) Services Market will be growing at a CAGR of 28.61% | Global Key Players - KT CORPORATION, ALCATEL-LUCENT S.A., ROGERS COMMUNICATIONS, INTERNATIONAL BUSINESS MACHINE CORPORATION, CSTAR TECHNOLOGIES

The machine to machine (M2M) services market is expected to grow at CAGR of 28.61% during the forecast period (2018 - 2023). Machine to machine (M2M) services refer to a broad term used to define any technology that allows network devices to exchange information and perform an action without any physical assistance of human beings. M2M services are used across different industry, such as in retail, banking & financial institutions, telecom & IT industry, healthcare, automotive, oil & gas, and transportation to enhance the safety, productivity, and efficiency of the establishments. The growing use of connected devices and IoT penetration are governing the demand for M2M services globally. Quickly advancing trends of e-commerce in the Asia Pacific countries is providing positive outlook to the M2M services in the world’s most potential market. Recovering oil & gas sector, which led to growing activity in upstream sector is also expected to create considerable demand in the near future.

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Ecommerce is Driving the Growth in Supply Chain Applications
One of the largest applications of M2M services are fond in the supply chain management sector. Ranging from warehouse to fleet management, M2M services provide a wide range of applications in this sector. The fourth industrial revolution or famously known as Industry 4.0, has brought immense changes in the operations of manufacturing and logistics sector. Companies are tending more towards connected factory environments and automation. This is not only helping the producer to save on labor costs but also helping them to gain almost zero manufacturing defects and continuous monitoring capabilities.
As one of the fastest growing retail business segment in the world, e-commerce is the major driver of automation trends in the market place. The high-tech solutions, such as Automated Guided Vehicles (AGVs) and Automated Storage and Retrieval Systems (AS/RS), which are key aspects of a modern fulfillment centers depend a lot on M2M services to establish communication amongst all these automated machinery. Increasing number of omni-channel business segments and online vendors are likely to keep the demand for M2M services on the upside in the near future, especially in the Asia Pacific and Europe region.

Key developments in the Market
• February 2018 u2013 In India, one of the fastest growing markets for M2M services, the Department of Telecommunications (DoT) has approved telecom service providers to start issuing 13-digit digit numbers for SIM based machine-to-machine (M2M) services. This scenario is expected to increase the number of M2M services provided the telecom vendors in the region
• January 2018 - Thuraya Telecommunications Company announced the launch of its Thuraya Tracking and Monitoring (T2M) service in conjunction with the first product release of the year, the T2M-DUAL terminal. These releases are expected to increase the company’s hold in the automotive industry

The major players include –
KT CORPORATION, ALCATEL-LUCENT S.A., ROGERS COMMUNICATIONS, INTERNATIONAL BUSINESS MACHINE CORPORATION, CSTAR TECHNOLOGIES, CISCO SYSTEM INC. and HUAWEI TECHNOLOGIES CO. LTD., amongst others.

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Automotive Industry to Play a Key Role in the Market
Automotive Industry is one of the first adopters of M2M concepts in their advanced technologies. Formula one cars and rally cars are known to have sensors and GPS trackers that feed information about car’s health to the bay for technical support. The drivers used such critical data to know when their hybrid engines are charged to gain some extra boost in the race or when to reach the pit for a refuel or change during a formula one event.
But as this technology penetrated into the commercial car market, especially after the innovation of the connected cars, M2M services became one of the luxury options in top end vehicles. Establishing communication with emergency services in case of an accident, real-time assistance and navigation, on board WiFi and other infotainment features attracted the consumers towards connected cars. The advent of electric cars made M2M services almost mandatory in the automotive industry, as the EV drivers always had to keep track of the range and the next charging station continuously. With most of the governments around the world encouraging electric vehicles, the automotive industry is expected to generate considerable demand in the next four years.

The Impact of 2G Shutdown
The mobile networks are constantly evolving leading to advanced technology and faster networks. These advanced services are affordable at a consumer level market. But in case of commercial usage, where limited amounts of speed is sufficient to transfer data between machines in a production environment, these services are very costly. This is the scenario where 2G has helped the commercial users to employ M2M technologies that work on cellular/mobile networks at cheaper costs.
But since 2G networks were surpassed by 3G and LTE vendors found maintaining outdated technology at higher costs to be non-profitable. This caused prominent 2G vendors around world like T-Mobile, Verizon and Bell to shut down their 2G services. The first company to abandon the technology was KDDI, Japan in 2008, followed by companies, like Softbank, KT Corp in 2010 and 2012 respectively. But, with emerging standards, like Cat-NB1, Cat-M1, and EC-GSM-IoT, which offer better and more reliable network performance are expected to fill the position of 2G in the near future.

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This release was published on openPR.